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A.M. Best Upgrades Credit Ratings of BTG Pactual Resseguradora S.A.

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A.M. Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to bbb from bbb- of BTG Pactual Resseguradora S.A. (BTG Re) (Brazil). The outlook of these Credit Ratings (ratings) has been revised to stable from negative.

The ratings reflect BTG Res balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

BTG Re is a local reinsurer in Brazil, operating in the surety segment with plans to expand geographically and by line of business. The companys parent, Banco BTG Pactual S.A. (BTG Pactual), has provided capital support, as well as operational and risk management capabilities.

Also reflected in the ratings is the impact of the credit profile of BTG Pactual and the still challenging but improving macroeconomic and (re)insurance conditions experienced in Brazil. The credit profile of BTG Pactual has stabilized, and A.M. Best believes that a potential adverse impact on BTG Res operations is now more remote. Additionally, BTG Re maintains solid stand-alone attributes in terms of operating performance and risk-adjusted capitalization. BTG Re has been able to produce positive overall earnings since inception, driven by investment income and complemented by underwriting results. BTG Re also benefits from a solid retrocession program that mitigates much of its underwriting exposures.

Furthermore, Brazils (re)insurance market is highly competitive with domestic and global reinsurers continuing to enter the market. BTG Re, which essentially acts as a captive reinsurer for its sister company, Pan Seguros S.A. (51% owned by BTG Pactual), has begun to develop and expand its product offerings in its local markets, as well as in other Latin America territories, each with their own market characteristics.

A.M. Best will continue to monitor BTG Res operating performance, risk-adjusted capitalization and the execution of its product and geographic expansion, in addition to the credit profile of its parent.

The key rating driver that could lead to a positive rating action in BTG Re’s ratings is the continued improvement of the credit profile of its parent company, BTG Pactual.

Factors that could negatively impact its ratings are the deterioration of its parent’s credit profile or liquidity position, or a decline in the risk-adjusted capitalization or the operating performance of BTG Re.

This press release relates to Credit Ratings that have been published on A.M. Bests website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and A.M. Best press releases, please view Guide for Media – Proper Use of Bests Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Guilherme (Guy) Monteiro Simoes
Senior Financial Analyst
+1
908 439 2200, ext. 5301

[email protected]

Scott Mangan
Associate Director
+1 908 439
2200, ext. 5593

[email protected]

Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159

[email protected]

Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644

[email protected]

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Royce Value Trust, Inc. (NYSE-RVT) declares Fourth Quarter Common Stock Distribution of $0.25 Per Share

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NEW YORK, Dec. 1, 2020 /PRNewswire/ — Royce Value Trust, Inc. (NYSE-RVT) has declared a quarterly distribution of $0.25 per share on its Common Stock.  The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 24, 2020 to stockholders of record at the close of business on December 11, 2020 (ex-dividend on December 10, 2020).  The price of shares issued for reinvestment will be determined on December 18, 2020.

The Fund has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 7% of the rolling average of the prior four calendar quarter-end net asset values (NAVs), with the fourth quarter distribution being the greater of 1.75% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund's Board of Directors.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.

The Fund's estimated sources of the distribution to be paid on December 24, 2020 and for 2020 year-to-date are as follows:

Estimated Allocations as of November 30, 2020

 

 

FUND

 

DISTRIBUTION

PER SHARE

 

NET INVESTMENT INCOME

NET REALIZED

SHORT-TERM

GAINS

NET REALIZED

LONG-TERM

GAINS

 

RETURN OF CAPITAL

RVT

$0.25

$0.0110 (4%)

$0.0039 (2%)

$0.2245 (90%)

$0.0106 (4%)

Estimated Allocations for 2020 through November 30, 2020

 

 

FUND

 

DISTRIBUTION

PER SHARE

 

NET INVESTMENT INCOME

NET REALIZED

SHORT-TERM

GAINS

NET REALIZED

LONG-TERM

GAINS

 

RETURN OF CAPITAL

RVT

$1.04

$0.0457 (4%)

$0.0163 (2%)

$0.9338 (90%)

$0.0442 (4%)

You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's Distribution Policy.  The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

Fund

Average Annual Total Return (in relation to NAV for the 5-year period ending on 11/30/2020)1

Annualized Current Distribution Rate (expressed as a percentage of NAV as of 11/30/2020)2

Cumulative total return (in relation to NAV for the fiscal year through 11/30/2020)3

Cumulative fiscal year Distribution Rate (as a percentage of NAV as of 11/30/2020)4

RVT

12.66%

5.73%

13.07%

5.96%

1  Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ended November 30, 2020.  Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.

2  The annualized Current Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of November 30, 2020.

3  Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2019 to November 30, 2020, assuming reinvestment of distributions paid.

The Cumulative Fiscal Year Distribution Rate is the dollar value of distributions for the fiscal year period (January 1, 2020 to November 30, 2020), as a percentage of the Fund's NAV as of November 30, 2020.

About Royce Value Trust, Inc.

Royce Value Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the New York Stock Exchange.  The Fund's primary investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities primarily of small- and micro-cap companies.

For further information on The Royce Fundssm, please visit our web site at: www.royceinvest.com.

 

Cision View original content:http://www.prnewswire.com/news-releases/royce-value-trust-inc-nyse-rvt-declares-fourth-quarter-common-stock-distribution-of-0-25-per-share-301182976.html

SOURCE Royce Value Trust

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David Bailey joins Euclid Life Science Specialty, LLC

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ITASCA, Ill., Dec. 1, 2020 /PRNewswire-PRWeb/ — Euclid Life Science Specialty, LLC, an Itasca-based specialty program administrator for life science liability, is pleased to announce the hire of David N. Bailey as vice president of underwriting and executive underwriter. David's focus will be growing the company's presence and core book of life science products-work hazard liability and professional liability on the West Coast and partnering with executive leadership to expand product offerings for the Life Science industry.

David brings more than 20 years of experience in life science and technology related underwriting to the Euclid Life Science Specialty team. Prior to joining Euclid Life Science, Mr. Bailey served as the Commercial Director of Life Science for CNA and held medtech leadership, risk control and underwriting roles with Travelers/St Paul and Fireman's Fund.

Managing principal of Euclid Life Science, Ryann Elliott states “David's driven marketplace presence and rich underwriting expertise builds on our extensive academic focus and experience necessary to service client needs in this highly complex industry sector. His focus on growing the team and the book on the West Coast will aid in balancing our team.”

Mr. Bailey holds a Bachelor of Science Business Administration from University of California at Riverside and is based in California, reporting to Elliott. He can be contacted directly by phone at +1.213. 247.2250, or via e-mail at [email protected]

About Euclid Life Science Specialty, LLC
Euclid Life Science Specialty, LLC is a specialty a product and professional liability insurance underwriting platform, providing tailored casualty coverage solutions to the life sciences industry and underwrite with capacity from a leading US insurer rated A+ by both A.M. Best and Standard & Poor's.

About Euclid Insurance Services, Inc.
Founded in 1952, Euclid Insurance Services, Inc. is a program administrator for specialty property/casualty insurance programs operating under the names Euclid Public Sector, Euclid Specialty Managers, Euclid Transactional, Euclid Enviant, Euclid Design Underwriters and Euclid Financial Institution Underwriters and functions as a general agency distributing employee benefit and life products under the name Euclid Managers.

For information on Euclid Life Science visit http://www.euclidlss.com and for information on the Euclid Insurance Services, Inc., visit http://www.euclidprograms.com.

Media Contact

Ryann Elliott, Euclid Life Science Specialty, LLC, +1 443-682-0102, [email protected]

 

SOURCE Euclid Life Science Specialty, LLC

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Mortgage CRM Insellerate Lands Decathlon Capital Partners Investment to Expand Technology Platform

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NEWPORT BEACH, Calif., Dec. 1, 2020 /PRNewswire-PRWeb/ — Insellerate, a leading mortgage CRM and engagement platform, has received a multi-million-dollar investment from revenue-based financing firm Decathlon Capital Partners.

The funding will drive Insellerate's platform expansion and enhance its customer support capabilities. Insellerate helps lenders close more loans with full CRM functionality, built-in lead management and automated marketing capabilities. The company counts leading national lenders and regional banks as clients.

“Insellerate began with a mission to revolutionize the way lenders relate to their customers,” said Insellerate CEO Josh Friend. “Today, our platform does just that, supercharging loan growth with a level of efficiency and customer satisfaction that can't be matched.”

Insellerate accelerates loan officer efficiencies while driving down loan acquisition costs — a formula that generates loan growth at much lower operating costs.

“Insellerate's success comes from our deep understanding of the mortgage market and a technical team devoted to creating the most functional and efficient technology platform in the industry,” said Insellerate's Chief Operation Officer Jack Friend.

Decathlon Capital Partners' interest in backing Insellerate's growth plans grew as the Palo Alto-based financing firm learned about the technology and wide array of industry applications behind the company's products.

“Insellerate is a key example of a talented team tackling a long-standing problem with fresh innovation,” said John Borchers, managing partner of Decathlon Capital Partners. “With our investment we know that Insellerate will continue transforming how lenders relate to their customers, bringing powerful new solutions to mortgage lenders across the country.”

As a revenue-based finance deal, Decathlon Capital Partners agreed to invest in Insellerate without exchanging any equity or company control. Instead the finance firm entered into an agreement to be re-paid with a portion of the company's future revenues.

About Insellerate
Insellerate is a true mortgage CRM that helps lenders close more loans by increasing efficiency gains across sales, marketing, operations, and management. Built by mortgage professionals, the Insellerate platform has full CRM functionality with built-in lead management and automated marketing. Lenders are able to improve both the borrower and loan officer experience with multi-channel communication, leveraging tools such as phone, SMS text messaging, email, direct mail, chat bots, and customer monitoring. Insellerate is a highly scalable, configurable, and modern platform that accelerates the sales process and generates repeat business. Learn more at https://insellerate.com/.

About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.

Media Contact

Michael Hammond, Insellerate, 734-775-4879, [email protected]

 

SOURCE Insellerate

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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